GOLD Options History — February 2020

In February 2020, GOLD traded between $9.02 and $10.99. ATM implied volatility averaged 32.8%, placing in the 38.7% IV rank vs the trailing year. The 30-day expected move averaged 9.6%. IV traded above realized volatility by 5.2% (HV 20d: 27.5%). Max pain ranged from $9.00 to $9.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.46.

Notable Days

  • 2020-02-18: Highest Volume — 179,542 contracts
  • 2020-02-28: Largest IV spike — 21.9% change
  • 2020-02-28: Highest IV Rank — 100.0%
  • 2020-02-28: Largest Expected Move — 15.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$9.79$9.02$10.99$9.18$9.42
Max Pain$9.00$9.00$9.00$9.00$9.00
ATM IV32.8%27.0%49.6%31.3%49.6%
Expected Move9.6%8.0%15.2%9.1%15.2%
HV 20d27.5%20.5%45.0%23.2%45.0%
HV 60d24.2%21.4%31.7%22.5%31.7%
IV Rank38.7%9.4%100.0%32.4%100.0%
IV Percentile55.1%6.0%100.0%53.6%100.0%
Term Structure-0.1%-2.1%1.5%-0.5%-2.1%
VWIV34.1%28.5%54.6%32.2%54.6%
Skew 25d-0.8%-2.1%-0.1%-0.6%-0.8%
Skew 10d-2.3%-5.1%-0.3%-0.3%-2.2%
Call IV 25d34.2%28.6%52.4%31.9%52.4%
Put IV 25d33.3%27.9%51.6%31.3%51.6%
Bid-Ask Spread %2.691.597.873.207.87
Gamma HHI0.150.090.250.160.09
Net GEX4.8M1.0M7.8M3.3M1.0M
Net DEX-244.3M-466.4M-84.4M-148.1M-84.4M
Net VEX-1.9M-2.3M-1.7M-1.8M-2.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.460.181.021.020.77
Total Volume94,898.52622,288179,54235,094154,918
Total OI1,292,025.7891,204,0621,429,8121,204,0621,367,946

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-02-03$9.18$9.0031.3%9.1%23.2%32.4%32.2%-0.6%-0.5%3.3M-148.1M-1.8M1.023.20N/AN/A17,35017,744619,518584,544
2020-02-04$9.03$9.0030.7%9.1%23.8%29.0%32.1%-0.8%-0.3%2.5M-114.0M-1.8M0.312.50N/AN/A31,5549,910626,012590,006
2020-02-05$9.02$9.0030.4%9.2%23.8%27.4%32.9%-1.2%0.0%2.9M-116.4M-1.8M0.482.36N/AN/A15,0507,238638,962590,936
2020-02-06$9.20$9.0030.4%8.6%21.6%27.5%30.9%-0.6%-0.5%4.5M-160.5M-1.8M0.651.59N/AN/A24,37015,810640,806592,682
2020-02-07$9.12$9.0030.2%8.6%21.5%26.7%30.8%-1.3%-0.1%2.9M-138.2M-1.8M0.201.76N/AN/A43,8228,760645,300603,458
2020-02-10$9.23$9.0030.5%8.8%21.6%28.1%31.1%-0.8%0.4%4.0M-171.6M-1.8M0.391.81N/AN/A38,67214,964642,518597,680
2020-02-11$9.23$9.0030.0%8.8%20.5%25.5%31.0%-0.8%0.6%4.6M-176.2M-1.8M0.592.53N/AN/A31,07018,290657,232603,212
2020-02-12$9.20$9.0027.0%8.1%20.7%9.4%28.6%-0.7%1.5%5.9M-164.2M-1.8M0.471.98N/AN/A39,64018,796670,828610,090
2020-02-13$9.45$9.0028.3%8.2%21.6%16.5%29.1%-0.9%0.7%7.8M-230.1M-1.8M0.672.08N/AN/A68,58845,862668,552618,466
2020-02-14$9.85$9.0028.0%8.0%25.4%15.1%28.5%-0.2%0.1%6.9M-334.4M-1.7M0.242.19N/AN/A121,29828,890673,350637,644
2020-02-18$10.29$9.0030.6%8.8%28.9%28.7%30.9%-0.3%-0.6%5.8M-385.4M-1.7M0.291.89N/AN/A139,31640,226654,800640,342
2020-02-19$10.47$9.0029.4%8.4%28.8%22.4%29.8%-0.8%0.1%7.1M-430.3M-1.7M0.332.08N/AN/A113,18437,608695,744640,300
2020-02-20$10.38$9.0030.1%8.6%29.3%25.9%30.5%-0.7%0.2%7.2M-409.9M-1.8M0.772.23N/AN/A85,92666,322715,982648,198
2020-02-21$10.72$9.0032.6%9.3%30.7%39.1%33.4%-0.5%-0.2%6.5M-466.4M-2.0M0.332.23N/AN/A102,21033,528741,342688,470
2020-02-24$10.99$9.0037.5%10.8%31.2%65.1%38.7%-0.8%-0.8%5.7M-391.6M-2.0M0.183.24N/AN/A147,91626,906662,596645,462
2020-02-25$10.68$9.0038.5%11.1%33.6%70.8%40.0%-0.1%-0.3%5.8M-329.3M-2.1M0.412.72N/AN/A54,28222,330696,244648,416
2020-02-26$10.59$9.0037.3%10.8%31.1%64.1%39.1%-2.1%0.8%3.8M-221.2M-2.0M0.203.59N/AN/A58,18811,454591,544644,636
2020-02-27$9.90$9.0040.7%12.2%40.8%82.2%44.3%-1.5%-0.9%2.8M-169.9M-2.2M0.363.35N/AN/A67,21023,870705,586649,086
2020-02-28$9.42$9.0049.6%15.2%45.0%100.0%54.6%-0.8%-2.1%1.0M-84.4M-2.3M0.777.87N/AN/A87,37667,542715,446652,500